Business Moves

May 8, 2006

Barlocker Insurance Services, The Leavitt Group

Barlocker Insurance Services will become part of the Leavitt Group in early June. A definitive letter of intent was signed on April 6, followed by inter-company announcements.

While the transaction’s terms were not disclosed, Leavitt Group Enterprises will hold a majority interest in Barlocker Insurance Services Inc., which will continue to operate its branches in Salinas, Fresno, Merced, San Jose, Laguna Hills, Ventura, Carlsbad and Woodland Hills, Calif.

Minority interests will be held by various branch managers consistent with the Leavitt Group’s business model, which contemplates key producers holding significant portions of ownership in each largely autonomous agency. Barlocker Insurance Services will continue to operate under its long-established name.

After the Barlocker transaction, the Leavitt Group and its co-owners will operate over 100 locations in 13 states. Barlocker’s 150 employees will bring the Leavitt Group’s employee total to 1,225 and the written premiums of the combined organization to $1.25 billion.

Calvin Barlocker will continue as the president of Barlocker Insurance Services and as chief area officer for the Leavitt Group. He will become a significant shareholder of Leavitt Group Enterprises and serve on the Boards of both companies.

Acordia, Calif. Broker Brodie

Acordia Inc., an insurance subsidiary of Wells Fargo and Co., acquired the assets of Edward C. Brodie Insurance Brokers Inc. in Sacramento, Calif. The acquisition closed April 1, 2006. Terms of the transaction were not disclosed. Brodie Insurance Brokers staff will be moving to Acordia’s Rancho Cordova office.

The acquisition of Brodie is one in a long line by Acordia including: Pate Insurance Agency Alaska, RMC2 Illinois & Florida, Care Insurance Services Nebraska, Wisenberg Insurance Texas, McDermott Brokerage Nebraska, Goodritz-Emanuel Pennsylvania, Malenas Insurance Agency Ohio, Feeney Durler West California, Sacia Risk Solutions Washington, Baldwin & Whitney Ohio, Speare & Company California, Phoenix Enterprises Colorado, Somerton Student California, Cassidy Benefits California, M.J. Beaven Agency Inc. Ohio, Brodie Brokers, Inc. California.

Acordia Inc., headquartered in Chicago, Ill., has 150 offices in 38 states. Its 4,500 insurance professionals place in excess of $8.5 billion of premiums.

State National, United Specialty

State National Cos. formed a new affiliate, United Specialty Insurance Company. The company began operation in March following admission to the state of Delaware and will exclusively service the surplus lines market.

United Specialty said it would carry the “A” (excellent), A.M. Best rating of the group once regulators approve a pooling agreement with State National Insurance Co. and National Specialty Insurance Co.

State National Cos. is a privately held group of insurance companies and agencies. Affiliates include two companies rated “A” (excellent) by A.M. Best. Texas-based State & County Mutual Fire Insurance Company is a third affiliate. The headquarters is in Fort Worth.

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